Tuesday, November 4, 2008

Yes, we are in a confirmed rally, but this is only a reactionary rally. This means, enjoy the rally while it lasts before I jump on the short wagon. I am still long with a few short positions mixed in, but in 75% cash ahead of the elections. I’d rather sell out and trade the reaction than holding during the “news”.

I’m profiling breakouts and a lot of my comments may be obvious, but that’s not the point. The point is to recognize the key resistance area that will be soon approaching for 80-90% of stocks, and that is the 50-day MA. Other stocks that broke out above the 50-day will use the moving average as support. Short-term traders should take profits before resistance is hit. Watch the 50-day MA’s closely and just be cautious.

1) They're not mean't to be specific. 2) There are no exact sciences and if you're looking for the holy grail...good luck!3) I'll be on Covestor in a few days, so you can track me there.4) Nothing wrong with Tim but specializes in a different art form in penny stocks. 5) Get an ID cause I really think your the same idiot from below.6) Therefore, re-read my comment: http://tinyurl.com/63k3ob

CHAT

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